Azerbaijani bank assets increase by 55 percent
Azerbaijan, Baku, Jan. 20 / Trend /
In 2009, Azerbaijani AccessBank's assets increased by 55 percent to $375 million, the bank reported.
The bank's loan portfolio increased by 43 percent to about $297 million. Also, total deposits increased by 210 percent and exceed $82 million.
"The tense economic situation in 2009 provided an opportunity to AccessBank and all the staff to demonstrate their power. This was highly appreciated by customers, which in its turn, affected both the steady growth of the deposit and loan portfolio and all fields of our activity," Accessbank General Director Andrew Pospilovski said.
AccessBank's mission is to provide access to financial services for Azerbaijan's low and middle income households and micro and small businesses.
The bank is owned by six foreign shareholders: the European Bank for Reconstruction and Development, the International Finance Corporation, the Black Sea Trade and Development Bank, KfW Development Bank - the Development Bank of the German Government (20 percent each), Access Microfinance Holding acting in microfinance field as a strategic investor (16.5 percent), and LFS Financial Systems GmbH - a German consulting company (3.5 percent).
AccessBank has been recognized by the Fitch Ratings as the most reliable private bank in Azerbaijan.